Elon Musk’s plans to monetize Twitter reportedly include job cuts

As part of his pitch to raise money to take over Twitter, Elon Musk apparently “driving” the idea of ​​cutting jobs at Twitter to improve bottom line, according to a reporter. Bloomberg report. “While nothing is set in stone — and Musk himself had no access to Twitter’s non-public financial data at the time — he specifically mentioned job cuts during talks with banks,” the report said.

There are still many uncertainties about what Twitter will look like under Musk’s ownership, assuming the $44 billion deal announced Monday goes through as expected. So far, the best indication of what he wants to do with the platform comes from his own words in a press release:

Free speech is the foundation of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are discussed. I also want to make Twitter better than ever by improving the product with new features, making the algorithms open source to increase trust, defeat the spam bots and authenticate all people. Twitter has huge potential – I’m looking forward to working with the company and the user community to unlock it.

But potential job losses have not been discussed publicly. Twitter did not immediately respond to a request for comment.

Given Musk’s many tweets about opening up free speech on the platform — including those criticizing Twitter’s past decisions that have drawn negative attention to employees — one area Musk may be cutting back is the company’s policy department. Musk has disbanded Tesla’s PR department, so perhaps Twitter’s communications groups could be scrutinized as well.

For bankers, Musk may have discussed ways to improve profits, but he has publicly stated that he is not interested in Twitter for the money. “This is no way to make money,” Musk said at TED 2022 on April 14. “My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important for the future of civilization. I don’t care about the economy at all.”

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